Best Robo-Advisor in Canada 2026: Wealthsimple vs Questwealth vs Justwealth vs Nest Wealth
Robo-advisors handle the boring parts of investing for you: picking ETFs, rebalancing when your allocation drifts, and reinvesting dividends. This guide breaks down the five biggest options in Canada for 2026 so you can pick the one that fits your account size, style, and goals.
What a robo-advisor actually does
A Canadian robo-advisor is a regulated investment manager that builds you a diversified ETF portfolio, picks the mix based on a short risk questionnaire, then keeps it on target automatically. You deposit money, it buys the underlying funds, and it quietly rebalances when one asset class drifts too far from your target. You never have to place a trade. In exchange, you pay two layers of fees: a management fee to the robo (usually 0.20% to 0.50% per year) and the MER baked into the underlying ETFs (typically 0.17% to 0.25%). Together that is your all-in cost, and it is the single number that matters most when comparing platforms.
Five Canadian robos worth comparing in 2026
| Robo | Management Fee | Est. MER | All-In Fee | Minimum | Accounts |
|---|---|---|---|---|---|
| Wealthsimple Invest | 0.50% (0.40% > $100k) | 0.20% | 0.70% | $0 | TFSA, RRSP, FHSA, RESP, LIRA, Corporate, Non-registered |
| Questwealth (Questrade) | 0.25% (0.20% > $100k) | 0.17% to 0.22% | 0.42% to 0.47% | $1,000 | TFSA, RRSP, FHSA, RESP, LIRA, LIF, Non-registered |
| Justwealth | 0.50% (0.40% > $500k) | 0.20% | 0.70% | $5,000 | TFSA, RRSP, FHSA, RESP, LIRA, RRIF, Non-registered |
| Nest Wealth | Flat $20 to $80 per month | 0.13% to 0.20% | 0.13% + flat fee | $1,000 | TFSA, RRSP, RESP, LIRA, Non-registered |
| CI Direct Investing | 0.35% to 0.60% | 0.17% to 0.26% | 0.52% to 0.86% | $1,000 | TFSA, RRSP, FHSA, RESP, LIRA, Non-registered |
Wealthsimple vs Questwealth: the head-to-head
Wealthsimple Invest
- $0 minimum makes it the easiest place to start with $50
- Best mobile app in Canadian personal finance (4.7 stars, 100k+ reviews)
- SRI, Halal, and Classic portfolios available
- One login for banking, cash, crypto, and taxes
- Higher all-in fee at ~0.70% until you hit Generation ($500k+)
Questwealth Portfolios
- Cheapest big-name robo at ~0.42% to 0.47% all-in
- Actively managed tilt: your money moves as macro conditions shift
- $1,000 minimum, sits inside the Questrade ecosystem
- Weaker mobile experience than Wealthsimple
- Best pick if you already have a Questrade self-directed account
When Nest Wealth's flat fee wins the math
The one thing every robo can't do for you
HOW TO PICK YOUR ROBO IN UNDER 60 SECONDS
- You have less than $50,000 and want the smoothest app: Wealthsimple Invest.
- You want the lowest all-in fee and don't need banking bells and whistles: Questwealth.
- You want unlimited access to a real, human financial planner at no extra cost: Justwealth.
- Your account is above $250,000 and you hate percentage fees: Nest Wealth.
- You want ESG or private-asset tilts and are willing to pay a little more: CI Direct Investing.
- You already track multiple accounts by hand and want to keep control: skip the robo and use an all-in-one asset-allocation ETF like XEQT or VGRO in your existing brokerage.
Frequently asked questions
Is a robo-advisor safe in Canada?
Yes. Every robo mentioned above is a registered portfolio manager regulated by the Canadian Investment Regulatory Organization (CIRO) and provincial securities commissions. Your assets sit at an arms-length custodian and are covered by the Canadian Investor Protection Fund up to $1 million per account category if the firm becomes insolvent.
Are robo-advisor returns actually good?
Robos hold the same low-cost index ETFs a smart DIY investor would pick, so long-run returns should track the market minus roughly 0.5% to 0.7% in combined fees. Studies from MoneySense and PWL Capital show most big-name robos land within 1% of each other over a 3 to 5 year window. The delta is fees, not stock picking.
Can I hold a TFSA, RRSP, and FHSA with the same robo?
Yes. Wealthsimple, Questwealth, Justwealth, and CI Direct all support the full stack of Canadian registered accounts including TFSA, RRSP, FHSA, RESP, and LIRA under a single login. Nest Wealth covers the same accounts except FHSA as of 2026.
Should I move my portfolio from Wealthsimple to Questwealth to save on fees?
Only if the savings clearly outweigh the friction. On a $100,000 portfolio the difference between 0.70% and 0.47% all-in is roughly $230 per year. Transferring registered accounts triggers a $150 transfer-out fee at most robos, which Questrade will usually refund up to $150. The break-even is quick, but do not switch just to switch.
What's the difference between a robo-advisor and an all-in-one ETF like XEQT?
A robo picks the ETF for you and charges a management fee on top of it. XEQT, VGRO, and ZBAL are single-ticker portfolios that hold the same globally diversified basket for around 0.20% MER and no management fee. If you can open a brokerage account and place two trades a year, you can save roughly 0.30% to 0.50% annually by going DIY.
How often does a robo-advisor rebalance my portfolio?
Most Canadian robos rebalance on a threshold rule rather than a fixed calendar. When any holding drifts more than 3% to 5% from its target weight, the robo trims the winners and tops up the laggards automatically. You can see the same drift logic explained in our post on the 5% rebalancing rule.